Is doing nothing doing something? Normally, when people are said to be "doing nothing", it is meant as a negative – they are not being active or doing anything of importance. It's a figurative meaning. To be taken in its most literal sense, there is no such thing as doing absolutely nothing – therefore you are always doing something. Regarding your business succession plan, doing nothing can be beneficial because it allows you time to reset.
When we get too busy with our daily activities, it is easy to lose sight of why it is so important to have a strategy and a plan in place that is aligned with your expectations for your clients, team and yourself. Having a written plan and frequently reviewing your succession plan will be the first step in ensuring a successful transition to the next phase for your firm. There are many choices available in our industry, which is why it is imperative that you are prepared. Being prepared and knowing what you want for your business will help to weed out unnecessary calls and meetings and help you select the best option that makes the most sense for your firm.
There can be serious consequences if you wait too long and scramble late in the game to complete what should be apart of your business plan from the beginning. It is important to recognize that you may only have one chance to get it right. Having a thought partner and advocate can be particularly important throughout what might seem like an endless sea of potentially unnerving experiences.
While you are taking care of your clients and employees, make sure you are proactively taking care of yourself and the business you created. Sometimes, doing nothing allows you to gain clarity. It’s time to think about what you need and prepare yourself and your business for what’s next. Are you doing something when you are doing nothing?